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that was the assessment from one of those directly involved: house speaker john boehner. the top republican today accused president obama of, "slow walking", the economy to the edge of the cliff. he repeated his call for the president to send congress a plan that can pass both houses of congress. tax rates are the major sticking point. the president wants to raise them for america's highest earners, house republicans strongly oppose: >> instead of reforming the tax code and cutting spending, the president wants to raise tax rates. but even if the president got the tax rate hike that he wanted, understand that we would continue to see trillion dollar deficits for as far as the eye can see. washington's got a spending problem, not a revenue problem. >> tom: congress and the president have 24 days to reach a deal, before the fiscal cliff's tax hikes and spending cuts take effect. >> susie: mark zandi says "bad things will happen to the economy pretty fast" if lawmakers don't settle the fiscal cliff issue. he's chief economist of moody's analytics. so mark falling off the fis
that was the assessment from one of those directly involved: house speaker john boehner. the top republican today accused president obama of, "slow walking", the economy to the edge of the cliff. he repeated his call for the president to send congress a plan that can pass both houses of congress. tax rates are the major sticking point. the president wants to raise them for america's highest earners, house republicans strongly oppose: >> instead of reforming the tax code and...
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Dec 6, 2012
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. >> late today the president spoke by telephone with house speaker john boehner. no specifics on what they said to each other, but it was their first conversation in a week. eventually the two sides will get down to bargaining over specifics, including entitlements. one idea may be to change the way the government measures inflation. that may sound like a small change, but, as darren gersh reports, it could have a big impact. >> reporter: if the price of oranges goes up, consumers will buy apples and other cheaper foods. we know that. economists call that switching "substitution," but that change in behavior doesn't show up in the official inflation rate. so most economists think the current consumer price index overstates the actual cost of living. that's important because the inflation rate is used to set tax brackets and social security benefits. moving to a more accurate inflation measure called the "chained c.p.i." would cut the deficit by $200 billion over ten years. supporters say the change wouldn't cut benefits. >> if we're making the change to reflect wh
. >> late today the president spoke by telephone with house speaker john boehner. no specifics on what they said to each other, but it was their first conversation in a week. eventually the two sides will get down to bargaining over specifics, including entitlements. one idea may be to change the way the government measures inflation. that may sound like a small change, but, as darren gersh reports, it could have a big impact. >> reporter: if the price of oranges goes up, consumers...
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christie met with president obama at the white house first, then with house speaker john boehner at the capital. at a senate hearing thursday, senator charles schumer of new york presented his case for rebuilding the storm zone. "new york has no choice, we have to adapt. new york and new jersey are a waterfront region in the path of violent new weather realities." president obama meanwhile is seeking $50 billion from congress for emergency aid for 11 states with storm damage. the improving housing market is turning into a wealth builder for americans. according to the federal reserve, financial wealth in american households grew to $64 trillion, up $1.7 trillion during the 3rd quarter. here's how that happened: the value of real estate rose $300 billion, while stocks climbed $520 billion. economists have said an increase in wealth translates into consumer spending. the report from the fed also shows americans cut debt by 2% last quarter. space exploration technologies, better known as space x, has landed a big - and much desired - new customer this week: the u.s. air force. the privatel
christie met with president obama at the white house first, then with house speaker john boehner at the capital. at a senate hearing thursday, senator charles schumer of new york presented his case for rebuilding the storm zone. "new york has no choice, we have to adapt. new york and new jersey are a waterfront region in the path of violent new weather realities." president obama meanwhile is seeking $50 billion from congress for emergency aid for 11 states with storm damage. the...
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boehner i think is trying to rise above partisanship and get a deal. i think he's been very valiant. but sit going to take a toll on the gop internally? >> larry, i was at a very prominent conservative meeting in washington today, and you know who showed up? a congressman from kansas. he was booted off of his committee earlier today and he was very angry talking to conservative activists. here's why conservatives are angry. as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple dozen republican house members signed a bipartisan letter that says let's look at all kinds of tax rates, not just the deduction, but tax rates in r
boehner i think is trying to rise above partisanship and get a deal. i think he's been very valiant. but sit going to take a toll on the gop internally? >> larry, i was at a very prominent conservative meeting in washington today, and you know who showed up? a congressman from kansas. he was booted off of his committee earlier today and he was very angry talking to conservative activists. here's why conservatives are angry. as this fiscal cliff negotiations continues, they think boehner...
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you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some indication they'll continue to talk through the weekend so i think what's going on here is you're seeing the public blast of ret lick but behind the scenes they are talking to each other. i think the talks are fair le well coordinated. you can tell that by how tightly the white house and boehner camp on the press side have coordinated their rollouts of what they've said about these talks. they're within minutes of each other, using the same language. that's an indication talks are sort of going along here. it is not an indication we will have a deal any time soon but there's no reason to give up hope just now, you guys. we won't. >> i think our "rise above" pins should be bigger. >>> 146,000 jobs were added in november. there is consensus out there that this is a good number. it was much higher than expectations. the problem is why were our expectations so low? let us bring in the chief economist for north america at b and b perrybaugh. ju
you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some indication they'll continue to talk through the weekend so i think what's going on here is you're seeing the public blast of ret lick but behind the scenes they are talking to each other. i think the talks are fair le well coordinated. you can tell that by how tightly the white house and boehner camp on the press side have coordinated their rollouts of what they've said about these...
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we have a bright side yesterday when john boehner came here to the white house. house speaker to talk to president obama. first individual one on one meeting since the election and that meeting and some other signals that have been sent publicly by both parties have caused some noted skeptics of us getting a fiscal cliff deal. >> i think the atmospherics are getting so much better. we've gotten out after ka bookie theater and gone to dancing the tango with those two guys. any time you start to tango, you have a chance. >> chances of getting it done now are better. i think that's what's key. >> part of that tango is republicans cracking on tax rates. that's what president obama will be talking about in michigan today. keeping the public pressure on. but the part for the administrator point of view, tyler, is what do they live john boehner so he can bring his troops along, entitlement, spending cuts, to tell their members we got a good deal. >> john, i find it curious to find that president spent as much time as he has on the road trying to drum up support for this
we have a bright side yesterday when john boehner came here to the white house. house speaker to talk to president obama. first individual one on one meeting since the election and that meeting and some other signals that have been sent publicly by both parties have caused some noted skeptics of us getting a fiscal cliff deal. >> i think the atmospherics are getting so much better. we've gotten out after ka bookie theater and gone to dancing the tango with those two guys. any time you...
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>> boehner might be willing to do a deal. the rank-and-file wants to hold fast and stick to principle which is rare in washington. david: what is your feeling? do you think we'll go off the cliff? >> i think it will go right to the end. if boehner and senator mcconnell do not cave, i think we'll kick the can down the road. for once that will be a good thing rather than a bad thing. david: steve forbes, forbes media chairman. >> good to see you, david. david: liz, over to you. liz: they're doing it in churches and cafeteria, ready for a workout. "inc." magazine named sumba fitness the company of the year. we have the ceo of assume ba fitness. we have the fitness instructor. we will combine latin music into a great workout that has grown into a huge empire and what it takes to join in. ♪ . >> i'm robert gray with your fox business brief. pandora is getting static in after-hours trading on a weaker than expected forecast. it is overshadowing strong third quarter results from the internet radio giant. >>> 2 will be a very speci
>> boehner might be willing to do a deal. the rank-and-file wants to hold fast and stick to principle which is rare in washington. david: what is your feeling? do you think we'll go off the cliff? >> i think it will go right to the end. if boehner and senator mcconnell do not cave, i think we'll kick the can down the road. for once that will be a good thing rather than a bad thing. david: steve forbes, forbes media chairman. >> good to see you, david. david: liz, over to you....
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so it must come down to boehner's future. do you see more and more republicans starting to peel off in the house? will this pressure mount? >> absolutely. i think -- i think we're seeing an awful lot of republicans already folding privately. and i think that that's being reflected in the larger debate. i think we're going to see more of that. i mean, i'm very struck by -- the day after we had the sacred cows of the republican party -- i mean, there was a barbecue of the sacred cows. it was amazing. grover norquist, persona non grata. karl rove, completely unwelcomed in many corners in which he was star in the sun king. i think as people are feeling that, you're sensing that they really need to rethink in both short term and long term what kind of a republican party can they be? >> okay. donna gentile-o'donnell and michael eric dyson. professor, great to have you with us tonight. >>> there's a lot more coming up in the next half hour of "the ed show." stay tuned. >> we're not going to implement obama care in florida. >> we're
so it must come down to boehner's future. do you see more and more republicans starting to peel off in the house? will this pressure mount? >> absolutely. i think -- i think we're seeing an awful lot of republicans already folding privately. and i think that that's being reflected in the larger debate. i think we're going to see more of that. i mean, i'm very struck by -- the day after we had the sacred cows of the republican party -- i mean, there was a barbecue of the sacred cows. it...
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john, how did this private and personal meeting between john boehner and the president over the weekend go? do we know? >> we don't know. the white house and speaker's office are both being very disciplined about not disclosing content of the meeting. but i think we can take encouragement from the fact that it took place. this there is some progress an prospect of further progress being made. public and private gain, as you indicated. going to washington to keep pressure on republicans. he believes that is what worked for him ever since the grand bargain talks collapsed in summer of 2011. he campaigned, won reelection. he sees signs of republican cracks in unity about tax rates. bob corker was on our air earlier today, senator from tennessee and said tax rates ought to go up, then we fight about entitlement accounts and the debt limit. i think that's where we are. one thing we need to see from the white house is some sign of what they are willing to give speaker bainer to bring his caucus along on tax rates in terms of entitlement reforms. can't be for nothing. boehner has to be able to
john, how did this private and personal meeting between john boehner and the president over the weekend go? do we know? >> we don't know. the white house and speaker's office are both being very disciplined about not disclosing content of the meeting. but i think we can take encouragement from the fact that it took place. this there is some progress an prospect of further progress being made. public and private gain, as you indicated. going to washington to keep pressure on republicans....
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. >>> also, later on, did you hear john boehner today? >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then, there's been to counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the hea
. >>> also, later on, did you hear john boehner today? >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then, there's been to counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal...
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we had a meeting with harry reid and speaker john boehner. the executive board message was as you are dealing with tough decisions that have to be made, to make sure that we don't over the fiscal cliff, don't shift the burden downward. we understand that there is a shared sacrifice. we ask for flexibility when it comes to programs that are funded by the federal government and federal monies. we need flex ability to be able to determine what is in the best interest of our state. how we can best serve the population. gerri: the truth is the states only have so much flex ability because you have to meet your budget. the federal government doesn't. but i want to show who is in washington. it was scott walker, gary herbert, mark dayton, jack markell. all the leadership of the governors association. what kind of response did you get? we are not passing anything onto you guys. >> the president was very cordial and respectful to the governors. and we believe that we have a stake in this process, and he felt like we could offer some ideas of ways that
we had a meeting with harry reid and speaker john boehner. the executive board message was as you are dealing with tough decisions that have to be made, to make sure that we don't over the fiscal cliff, don't shift the burden downward. we understand that there is a shared sacrifice. we ask for flexibility when it comes to programs that are funded by the federal government and federal monies. we need flex ability to be able to determine what is in the best interest of our state. how we can best...
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we have not seen that same support from republicans to speaker boehner. he has the rank and file behind him, but we have conservative voices both in the senate and house criticize the plan he put on the table. with that said, again, i guess my initial question is where do you see progress? you noted where the president stood the line and been loyal to the words he offered to the american public upon re-election, but as far as these negotiations are concerned, where is the progress? >> well, i think republican voices are being raised. even lindsey graham over in the senate and in the house, you're seeing the congressman speak out from ohio. though he's leaving, he sees a path forward to an agreement. i think we need 218 to pass a measure in the house, and i think we're on the road to do that. >> quickly, we have to talk about major changes to social security and medicare. you are against it. a new poll shows that 70% are opposed to medicaid spending cuts, 51% oppose raising medicare age. where are you you willing to compromise on entitlements when that par
we have not seen that same support from republicans to speaker boehner. he has the rank and file behind him, but we have conservative voices both in the senate and house criticize the plan he put on the table. with that said, again, i guess my initial question is where do you see progress? you noted where the president stood the line and been loyal to the words he offered to the american public upon re-election, but as far as these negotiations are concerned, where is the progress? >>...
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we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint economic committee hearing. they're going to hear from a top economist not only about the jobs numbers coming out tomorrow but also about what can be done to avoid this issue at the end of the year. >> tracie potts for us in washington. thank you. >>> last night on the ed show, steny hoyer explains why he thinks the debt ceiling vote should be taken off the table. >> the debt ceiling is a phone y vote, frankly. and from time to time democrats have made it an item that they demagogue down and the republicans have demagogued on it, as well. the debt limit is a re
we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint...
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what will speaker boehner say. and a cartoon rich person out of california, urinating on the poor, on the middle class, this is from a teacher's union. we'll talk about it, new at 10. d a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care profesonals who understand the difference that quality time with our members can make... that's a very nice ke! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-star rating for a medicare plan... your efforts result in the quality of care and service we're able to provide... which means better health outcomes... and more quality time to share withhe ones who matter most. love you, grandma! [ male announcer ] humana. ♪
what will speaker boehner say. and a cartoon rich person out of california, urinating on the poor, on the middle class, this is from a teacher's union. we'll talk about it, new at 10. d a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care profesonals who understand the difference that quality time with our members can make... that's a very nice ke! ohh! [ giggles ] [ male...
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the republicans have offered substantial -- boehner has offered substantial tax increase, $800 billion, actually, but he believes it can be done by closing loopholes without raising the rates, which would be better for the economy. i don't believe we need to raise taxes. we can bring this government under control through spending reductions. certainly, if taxes are raised, they should be done in a way that's most beneficial or least damaging to the viability of our economy. >> yeah. i got to tell you, after listening to that interview, i feel pretty confident that we're going over the cliff. are we going to go over the cliff, senator? >> we should not go over the cliff. we should have been working on this all year, not waiting until the last minute. the reason we're not making progress, let me tell you -- and i've been consistent on this. they're bringing these numbers up in secret. if they were laid out in public so the american people knew just how much taxes they were increasing, just how little spending reductions -- or how much increases in spending. as a political mover, very eff
the republicans have offered substantial -- boehner has offered substantial tax increase, $800 billion, actually, but he believes it can be done by closing loopholes without raising the rates, which would be better for the economy. i don't believe we need to raise taxes. we can bring this government under control through spending reductions. certainly, if taxes are raised, they should be done in a way that's most beneficial or least damaging to the viability of our economy. >> yeah. i got...
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that after talking with house speaker john boehner over the weekend. their firps one on one in weeks. is that why republicans are saying they would swallow higher taxes for the right deal on spending cuts? we'll talk to tom cole who is making that case in just a few minutes. >>> bmw and mercedes are looking for the best selling luxury brand in the united states. wait until you hear what your money can get you these days. you're watching cnbc. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is q rea this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please? >>> is the u.s. consumer in trouble? the front page on this morning's "wall street journal" says yes. but are holiday sales and shipping proving otherwise? courtney reag
that after talking with house speaker john boehner over the weekend. their firps one on one in weeks. is that why republicans are saying they would swallow higher taxes for the right deal on spending cuts? we'll talk to tom cole who is making that case in just a few minutes. >>> bmw and mercedes are looking for the best selling luxury brand in the united states. wait until you hear what your money can get you these days. you're watching cnbc. ...so as you can see, geico's customer...
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we heard from speaker john boehner. we heard from president obama also. we now have a republican from utah joining the discussion. i want to ask you here, and the time we have, what is going on inside of your party. speaker boehner is giving away too much, the tax hikes, 800 billion, only half of what president obama has on the table. still, too much for republicans to be in favor of. >> we want to solve the problem. i am proud of what speaker boehner is doing. there are 535 members in the house and the senate. we have to solve this problem. what i like about what speaker boehner is doing, he is at the table trying to get this done. connell: you are behind your speaker is basically what i am hearing. >> absolutely. he does not want to raise rates. we have to get serious. what i have not heard from the president any details on how he would actually cut spending. connell: say if the president were to come up and say i am going to cut into medicare, you know, i don't know if they double it, but they come up with a lot more in the medicare cuts, are you prepa
we heard from speaker john boehner. we heard from president obama also. we now have a republican from utah joining the discussion. i want to ask you here, and the time we have, what is going on inside of your party. speaker boehner is giving away too much, the tax hikes, 800 billion, only half of what president obama has on the table. still, too much for republicans to be in favor of. >> we want to solve the problem. i am proud of what speaker boehner is doing. there are 535 members in...
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as soon as you see john boehner talk for obama it doesn't matter. the market seems to come off of that news. traders have got to look out if there's a joint announcement, chances are they're close to a deal, we will see the market higher. look out for that. dave: let's get off of stocks and deal with oil. we see oil slipping a bit and you see a point at which you might stop and that is $84.50. that is the point we have got to look at coming in next week as the starting point for this drop. phil: we have come down to that range several times over the last few weeks and that is when you had highest level supply out there and you didn't really have much geopolitical risk. we start to come back to that mode so we will scale back to that level before things heat up in the middle east and we have supply crunches due to the cold weather ahead of us. >> next week we have the final fit meeting of the year. the jobs report and everything we have been seeing. phil: we will see the fed continue on the same path of that they may just maturities they are going to
as soon as you see john boehner talk for obama it doesn't matter. the market seems to come off of that news. traders have got to look out if there's a joint announcement, chances are they're close to a deal, we will see the market higher. look out for that. dave: let's get off of stocks and deal with oil. we see oil slipping a bit and you see a point at which you might stop and that is $84.50. that is the point we have got to look at coming in next week as the starting point for this drop....
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john boehner is trying to valiantly make a compromise. as he said today he's not getting anywhere at all, okay? mr. obama wants higher tax rates. he also wants more revenues from capping deductions. he wants no entitlement reform or nothing to speak of. no discussion of spending cuts. obama wants even more spending increases. and a lot of republicans, conservatives, are saying you know what? we don't want a tax hike at all. we give boehner credit but we don't want a tax hike. this is not the time. it's a very anemic economy. let's just let the democrats have their tax hike and we'll be done with it. other than that, jimmy, i don't think this thing gets done. that's what i'm coming around to. >> well, i think that there's a chance to that. a chance for that to happen in the scenario that you just described. but i don't think that is what happens. frankly, i think with the vice president saying today that the issue of whether the top rate is 39.6 or 37 it's really doesn't matter. that was a huge olive branch as our colleague just said. this
john boehner is trying to valiantly make a compromise. as he said today he's not getting anywhere at all, okay? mr. obama wants higher tax rates. he also wants more revenues from capping deductions. he wants no entitlement reform or nothing to speak of. no discussion of spending cuts. obama wants even more spending increases. and a lot of republicans, conservatives, are saying you know what? we don't want a tax hike at all. we give boehner credit but we don't want a tax hike. this is not the...
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boehner wants a deal. i think it has to be balanced with revenues including increased rates on taxes. i would say at like 75% that there's a deal. liz: well, there's a deal tomorrow when this auction is up. they're incredible. internship at chanel. come on you know a kid that wants that. incredible offers. good luck. good work you're doing, kerry. >> thank you for doing this. liz: kerry kennedy. oh the website, rfccenter.org. >> rfkcenter.org. liz: then you will click on it and see where the auction is. go falconning with rfk, jr., her brother. that's what you would like? david: i would like to go falconning. i would have to bid. liz: 5100. david: that is not bad. for a good cause. liz: always. david: apple and google have become french mys. -- frenemis. they are on a bid for kodak patents. we'll have the details coming next. ♪ . [ male announcer where do you turn for legal matters? at legalzoom, we've created a better place to handle your legal needs. maybe you have questis about incorporating a busines
boehner wants a deal. i think it has to be balanced with revenues including increased rates on taxes. i would say at like 75% that there's a deal. liz: well, there's a deal tomorrow when this auction is up. they're incredible. internship at chanel. come on you know a kid that wants that. incredible offers. good luck. good work you're doing, kerry. >> thank you for doing this. liz: kerry kennedy. oh the website, rfccenter.org. >> rfkcenter.org. liz: then you will click on it and see...
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house speaker boehner coming out earlier today and saying no progress has been made in the negotiations. our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. >> reporter: not surprisingly, democratic house leader nancy pelosi had precisely the opposite explanation for what is behind this stalemate. she says republicans simply echoing the white house are going to have to buckle on the issue of the top rates. >> the only obstacle standing in the way of middle income ta
house speaker boehner coming out earlier today and saying no progress has been made in the negotiations. our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days...
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boehner stepped in front of the microphone the day after the election and this market tanked. that's a clear signal to washington they better get it right. >> i think ben is right on the money. this is basically what is happening. there's an enormous amount of room for disappointment in this market. this market is expecting a deal. i don't know why all of the sudden today we get this triple-digit move as if something is happening. if we don't get a deal, how big of a sell-off can we see? >> well, we've seen the t.a.r.p. disappointment. we've seen the debt ceiling disappointment. i think if we go over the cliff, we're going to have a very big sell-off, then the politicians are going to go, hey, we're here to the rescue. >> what's fueling this optimism then? >> i think we have seen the idea that the market has voted to tell washington they need to get it right with the sell-offs we have seen. the anticipation is they want to get re-elected. they understand the republicans now have detectors. again, the market is saying we with believe in you. don't screw this up. >> all right. y
boehner stepped in front of the microphone the day after the election and this market tanked. that's a clear signal to washington they better get it right. >> i think ben is right on the money. this is basically what is happening. there's an enormous amount of room for disappointment in this market. this market is expecting a deal. i don't know why all of the sudden today we get this triple-digit move as if something is happening. if we don't get a deal, how big of a sell-off can we see?...
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boehner. boehner that low? >> it's remarkable. there is some subjectivity that goes with this but i think that's very interesting. the other folks that you mentioned. bloomberg fascinates me. >> bloomberg more power than bainer? really? >> i don't know about more power but think about the interesting position that bloomberg's in. he's got a year left on this third term that he has figured out a way to have. he's a publisher. he's a 15th richest guy -- most powerful guy on our list, one of the richest men in the world. >> and a quick thought on ilan musk -- we've heard his name but he doesn't get a lot of attention. why is he in the top 70? >> when you think about the entrepreneurial ethos that forbes tries to represent, the people, places and companies that we try to describe an entrepreneurs in particular, here's a guy who founded paypal. here's a guy who's at the front of the tesla automobile. he's now moving cargo through space. filling the void that nasa has left. >> it's like watch what he does zblep's going to be the railroa
boehner. boehner that low? >> it's remarkable. there is some subjectivity that goes with this but i think that's very interesting. the other folks that you mentioned. bloomberg fascinates me. >> bloomberg more power than bainer? really? >> i don't know about more power but think about the interesting position that bloomberg's in. he's got a year left on this third term that he has figured out a way to have. he's a publisher. he's a 15th richest guy -- most powerful guy on our...
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they are speaking as one with john boehner. so that's, i think, the big difference is that boehner, cantor, mccarthy, throw paul ryan in there, this is a quartet that is moving as one, negotiating as one. there's no, none of this looking over the shoulder. on the leadership side, it's a much different story. yes, it really depends on how you want to try to view it. can you find more rank-and-file conservative republicans who are sort of not in the circle? yes. to complain. but there's no -- there's no alternative. >> bob, you, yesterday, shadowed grover norquist for quite some time. you went to the meeting, his wednesday meeting. >> that's right. >> he has all the time with some of the most powerful conservatives in d.c. and across the country attending. what was their attitude about any deal that boehner might have to make? >> it's pretty interesting when you talk to house republicans because they look at boehner from two different perspectives. on one side, boehner went in front of the house conference and he said, i'm not go
they are speaking as one with john boehner. so that's, i think, the big difference is that boehner, cantor, mccarthy, throw paul ryan in there, this is a quartet that is moving as one, negotiating as one. there's no, none of this looking over the shoulder. on the leadership side, it's a much different story. yes, it really depends on how you want to try to view it. can you find more rank-and-file conservative republicans who are sort of not in the circle? yes. to complain. but there's no --...
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so continue to watch any of those talks with boehner and obama, and if they make any kind of progress. then we can see the s&p start to build momentum on that and travel upward. > people who were investing overseas are very happy about what is happening in europe. german stocks are soaring. is it too late to get in? > > we saw the dax push up to a 52-week high last week. really the key here is safety. they are using that stock market as their safety gauge if they are trading over in europe. so, if the safety play continues to warrant being ultra- conservative, yeah, you are going to see that market continue to move upward. if traders want to take on a little bit more risk and spread to some of the other european sovereign-debt nations like spain or greece, then you are probably going to see that safety play back off a little bit. > there are always places to park money. good to have you on the show this morning. have a great trading day. > > you too. if you're not yet fully awake this monday, here's one thing to open your eyes: after years of higher and higher coffee prices to consume
so continue to watch any of those talks with boehner and obama, and if they make any kind of progress. then we can see the s&p start to build momentum on that and travel upward. > people who were investing overseas are very happy about what is happening in europe. german stocks are soaring. is it too late to get in? > > we saw the dax push up to a 52-week high last week. really the key here is safety. they are using that stock market as their safety gauge if they are trading over...
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. >> well we've heard from just about everybody in town except for speaker boehner. scott it feels like we're getting some deal making behind the scenes and i'll tell you why it feels that way. we were told that yesterday speaker boehner and president obama held a phone call, it was said to be about 20, 28 minutes in length but neither side has leaked what happened on that phone call. the house republicans are not leaking, the white house just within the past hour said it's not going to tell reporters what was discussed, that's probably an encouraging sign that negotiations are taking place. last week we saw that they had a proposal and immediately house republicans leaked the white house proposal and then republicans went out of their way to say they were laughing at that proposal, now they're not leaking, that's probably a sign of some real deal making but nonetheless harry reid the senate democratic leader was on the floor within the past hour or so and he kept the pressure up on republicans. take a listen. >> the plan for the republicans to face reality, there's
. >> well we've heard from just about everybody in town except for speaker boehner. scott it feels like we're getting some deal making behind the scenes and i'll tell you why it feels that way. we were told that yesterday speaker boehner and president obama held a phone call, it was said to be about 20, 28 minutes in length but neither side has leaked what happened on that phone call. the house republicans are not leaking, the white house just within the past hour said it's not going to...
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president obama and john boehner meet face-to-face on sunday. does it mean we're any closer to the solution to the fiscal cliff? >>> a news conference by chairman ben bernanke, set for wednesday.
president obama and john boehner meet face-to-face on sunday. does it mean we're any closer to the solution to the fiscal cliff? >>> a news conference by chairman ben bernanke, set for wednesday.
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cantor is worried -- excuse me, not cantor, boehner is worried about not being reelected as speaker of the house. they can't vote on that until january 4th with the new congress on that. cantor wants that job. so i think boehner's going to press for a deal, i think he's going to go ahead and allow president obama to raise taxes to 39.6%, and i think that'll take the edge off the fiscal cliff. david: let's take this discussion out of the beltway and into the real world. the economy, and, jeff, i want to start with you because you're bullish, but if you're so bullish, hy are you downgrading housing right now? >> because our housing team made a really good call on the housing stocks, and they outran their valuations on a short to intermediate-term basis. they downgraded them about two months ago. liz: okay, so where's the money? show it to us. >> i like just about everything except consumer staples. i think industrials look good, i think they are the new consumer staples. i think that consumer staples are the new investment vehicles of utility investors -- liz: and you like american tower
cantor is worried -- excuse me, not cantor, boehner is worried about not being reelected as speaker of the house. they can't vote on that until january 4th with the new congress on that. cantor wants that job. so i think boehner's going to press for a deal, i think he's going to go ahead and allow president obama to raise taxes to 39.6%, and i think that'll take the edge off the fiscal cliff. david: let's take this discussion out of the beltway and into the real world. the economy, and, jeff, i...
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of course, that one day that you actually have president obama and boehner come out on the white house lawn saying they're announcing some kind of a deal, you're probably going to see a sharp rebound on the back end of it. you certainly don't want to miss out. >> jeff, what's the third thing you do? buy cans of tuna fish? >> no, i think you have to watch it. the one thing i would disagree with is i don't like dividend payers right now. i think this idea of rushing to these special dividends could come back to actually backfire on some of these companies if they're not putting their cash to good use. it's almost like they're trying to bar the door to keep investors from going out. i'm a little afraid there. i'm also afraid of munis here. on the back end of this, there's a good chance munis could lose their tax-exempt status. that could cause some problems. they've had great run here. i think they're very susceptible to talks coming from the fiscal cliff. >> i think if they took the tax-exempt status away, we'd all be in trouble. >> then what do you do? >> it's a horrible thing as far as
of course, that one day that you actually have president obama and boehner come out on the white house lawn saying they're announcing some kind of a deal, you're probably going to see a sharp rebound on the back end of it. you certainly don't want to miss out. >> jeff, what's the third thing you do? buy cans of tuna fish? >> no, i think you have to watch it. the one thing i would disagree with is i don't like dividend payers right now. i think this idea of rushing to these special...
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but we vice presidehaven't seen meeting we want to see, the president and speaker boehner. we're seeing that now. >>> meanwhile, toronto dominion down today. it seems investors are worried about the company's higher expense and a slow down in mortgage growth. let's talking td bank. joining me now in a cnbc exclusi exclusive, the ceo ed clark. atlanta, georgi thanks for joining us. what do you think is most concerning here? how was the quarter? >> actually, we were very pleased with the quarter. really pleased with the year. we went into the year saying we were with going to have to work hard to get 7% earnings growth. we ended up with 8 and 10% overall growth. it's really actually, you know, we faced a lot of head winds this year. lots of things going on. so frankly, we're very pleased with the year. >> of course, you announced this acquisiti acquisition. why do this deal now? what was so important in terms of contributing to business? >> yeah, so, you know, we have signaled to the market for some time what we want to do. this fit absolutely perfect. it's one of these great
but we vice presidehaven't seen meeting we want to see, the president and speaker boehner. we're seeing that now. >>> meanwhile, toronto dominion down today. it seems investors are worried about the company's higher expense and a slow down in mortgage growth. let's talking td bank. joining me now in a cnbc exclusi exclusive, the ceo ed clark. atlanta, georgi thanks for joining us. what do you think is most concerning here? how was the quarter? >> actually, we were very pleased...
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after what boehner's republicans in the house did to him. here is how he explained it. >> now despite all of this i wasn't going to make a deal. despite everything they put him through, i was willing to hold fast but they all changed on thursday. because on thursday this man, this grown man was pushed into the congressional ladies' wash room naked from the waist down. they held me down and took my pants. >> they held down and took his pants. and he had to stand there in front of his female colleagues. one hand covering his genitals the other trying to cover his butt crack. neither hand succeeding. >> bill: to hear that in the obama voice is perfect >> bill: to picture john boehner in that embarrassing position. i don't know. >> it's just plausible enough. >> bill: it is. the only thing that is unbelievable about that is that there is a ladies' restroom. there may be one. right? in the entire building. >> it's impossible to find. >> bill: we have heard a lot of complaints about that. i hope congress has made some adams now that there are more
after what boehner's republicans in the house did to him. here is how he explained it. >> now despite all of this i wasn't going to make a deal. despite everything they put him through, i was willing to hold fast but they all changed on thursday. because on thursday this man, this grown man was pushed into the congressional ladies' wash room naked from the waist down. they held me down and took my pants. >> they held down and took his pants. and he had to stand there in front of his...
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staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days. the president's holding another campaign style event as the middle class families, and with more, michael burgess of texas. congressman, great to have you object show again. >> great to be with you, thank you. gerri: everything's hanging in the banse, economy, middle class income, taxes, you name it, and you and your fellow house members are not going to work. >> well, wait, this is a 24-hour day job, seven days a week. i'm in new york tomorrow looking at the hospitals affected in hurricane sandy, and i feel like i need to do the ground work to investigate that for myself. gerri: you're doing wor
staff and speaker john boehner's office telling fox business the lines of communication open, but it's an empty house in washington. look at these pictures. house members on their long weekend break, and the senate is out until monday, but not before working out logistics for a big event. a private screening of steven spielberg's lincoln at the capital. now, harry reid using his time to take a special waiver to allow unbuttered popcorn in the auditorium. that's what passes for work these days....
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more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get a freebie is just crazy. >> california at 52%, new york and other places -- >> when you add up all the state and local taxes. hawaii is above 50, as well. >> hawaii is worth it, though. >> california is not bad either. >> unless you need to drive somewhere. right? and don't have a helicopter. >> there's a reason the president takes a helicopter anywhere. you can't drive in d.c. sdl those a >> boston in the city can get like that. last night i was thinking in my mother was still alive, cincinnati versus here, she would see like ten cars an and go oh, i can't believe people -- if she had
more support for boehner now than anytime in his speaker ship. is that's setting up for -- >> but it is social media and twitter allows to you see these things. >> sausage factory into the front of the kitchen. >> exactly. >> geithner didn't use the word marginal rates had to go up, just said rates. >> rates are already going up. there will be a tax increase to people making more than 250 anyway because of the health care law. so the idea that somehow they will get...
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president does twitter q&a and response from boehner. the whole thing is nonsensical. >> we're looking not to be played and one of the ways we're doing that to point out, for example, the republicans have been incentivized to simply stand up and say until you come to the table and literally come to the table with john boehner and the president leading that discussion, at a given table on a given set of parameters to go forward, not much is going to happen. secondly they have incentivized the republicans to say, you know that sequestration deal? $1.22trillion in budget cuts and $600 billion in tax increases, you know what? if that is the best deal on the table, mr. president, the heck with you. we'll go with you. we'll accept your deal because that deal was created between both parties, the president and congress. and nobody can deny that. lori: perspective for you. thanks, lou. >> you got it. lori: you can catch lou every day with melissa and me at this time of course 7:00 and 10:00 eastern. tonight, michael roo mere recent for investors
president does twitter q&a and response from boehner. the whole thing is nonsensical. >> we're looking not to be played and one of the ways we're doing that to point out, for example, the republicans have been incentivized to simply stand up and say until you come to the table and literally come to the table with john boehner and the president leading that discussion, at a given table on a given set of parameters to go forward, not much is going to happen. secondly they have...
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the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be progress these days here on capitol hill. >> we'll take that. tracie potts for us in washington. tracie, thanks. >>> egypt state television is reporting at least five people were killed in overnight flashes between supporters and opponents of egyptian president mohammed morsi. the street battles were the most violent since egypt's latest crisis erupted two weeks ago where morsi assumed near absolute power. the opposition is vowing more protests later today. >>> this morning, two australian radio hosts are apologizing for a prank call that's getting worldwide attention. it was made to the hospital where kate is being treated for acute morning sick sentencesness. anna bell roberts is with us. >> reporter: good morning, lynn. that's right. the latest on kate's condition is that she will remain in hospital. we're not quite sure for how much longer, but she is said t
the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be progress these days here on capitol hill. >> we'll take that. tracie potts for us in washington. tracie, thanks. >>> egypt state television is reporting at least five people were killed in overnight flashes between supporters and opponents of egyptian president...